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Mrs. Narantungalag, 22 years old, lives with her husband, son and parents, in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land. Her parents have retired from work. Her husband and father stay at home, caring for her son. Her mother works as a waitress at a restaurant. She, herself, has been working as a baker at a bakery.

The house they live in has deteriorated over the years and needs some serious repair. So she is requesting a loan of 3,200,000 MNT, which she will use to purchase building and insulation materials, such as fiberglass, bricks, cement and planks. Using those materials, she and her husband will repair the house. As a result, the whole family will live in a comfortable and warm place. More importantly, the renovated house will enable the family to burn less coal, emitting less smoke and thereby contributing to the efforts against air pollution. The borrower is a very hardworking young woman, who deeply cares for her family.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

About Credit Mongol

Credit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,404.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,300 helped Narantungalag to purchase building and insulation materials.
56% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Apr 15, 2013
Apr 18, 2013
Currency Exchange Loss: